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    CanniMed to Acquire Up Cannabis Inc. (Newstrike Resources Ltd. - TSX-V  1240  0 Kommentare HIP) to Create a Premier Global Cannabis Company

    SASKATOON, SASKATCHEWAN and OAKVILLE, ONTARIO--(Marketwired - Nov. 17, 2017) -

    Editors Note: A photo for this release is available on the Canadian Press picture wire via Marketwired.

    Transaction Highlights

    • Combining the leading medical brand and a high profile recreational brand to create a premier global cannabis company
    • Well positioned to offer innovative, high quality products with two top tier distinct brands uniquely positioned to address key product trends and emerging drivers of growth in both market segments
    • CanniMed and Up Cannabis will leverage infrastructure and expertise across both platforms to drive strong synergistic value while focusing on being leaders in their distinct markets, with best-in-class production and marketing practices
    • Expected to be accretive (before synergies) on key metrics by 2019
    • The Tragically Hip remain intimately involved as shareholders and active participants in the creation and support of the Up Cannabis brand
    • Significantly improves operational scale with a targeted 45,000 kg of capacity by 2019 and market breadth
    • Improved capital markets presence with a pro-forma capitalization exceeding $500mm
    • Newstrike shareholders to receive 33.0 CanniMed shares for each 1,000 shares of Newstrike

    CanniMed Therapeutics Inc. (TSX:CMED) ("CanniMed") and Newstrike Resources Ltd. (TSX VENTURE:HIP) ("Newstrike") are pleased to announce that they have reached a definitive agreement (the "Arrangement Agreement") pursuant to which CanniMed will acquire all of the outstanding shares of Newstrike (the "Arrangement"), parent company of Up Cannabis Inc. ("Up Cannabis"), a licensed producer of cannabis under the Access to Cannabis for Medical Purposes Regulations (ACMPR).

    "This is a transformational strategic acquisition for our company, which will position CanniMed and Up Cannabis together as premium players in the emerging recreational cannabis marketplace, while equally staying true to our mandate to provide the best treatment and care to medical patients," said Brent Zettl, President and CEO, CanniMed. "Together, we recognize the importance of brand loyalty and will continue to build products, programs and resources to showcase our leadership in the cannabis arena."

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    CanniMed to Acquire Up Cannabis Inc. (Newstrike Resources Ltd. - TSX-V HIP) to Create a Premier Global Cannabis Company SASKATOON, SASKATCHEWAN and OAKVILLE, ONTARIO--(Marketwired - Nov. 17, 2017) - Editors Note: A photo for this release is available on the Canadian Press picture wire via Marketwired. Transaction Highlights …